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- Shiba Inu price prediction suggests the consolidation phase of SHIB crypto inside the descending triangle pattern.
- SHIB crypto has slipped below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of SHIB/BTC is at 0.000000000493 BTC with an intraday gain of 0.07%.
Shiba Inu price prediction suggests the token is trying to surge towards the upper trendline of the descending triangle. SHIB crypto must attract more buyers in order to recover over the daily price chart. However, volume can be seen below average and needs to grow for SHIB cryptocurrency to recover. The SHIB army needs to wait until the token gets a throttle to recover. However bears have been shorting the market for SHIB crypto since November 2022.
Shiba Inu price is currently approximated at $0.00000829 and has gained 0.48% of its market capitalization. However, trading volume has decreased by 43% during the intraday trading session. This demonstrates that SHIB crypto is continuously being trapped by bears. Volume to market cap ratio is 0.01095.
Shiba Inu price prediction shows that SHIB token price has been consolidating inside the descending triangle pattern. However, volume change is still below average and needs to grow for SHIB to break out of the falling pattern. Meanwhile, SHIB crypto has slipped below 20, 50, 100 and 200-days Daily Moving Average.
Will Shiba Inu Price Skip This Consolidation?
Shiba Inu price needs to overcome this falling momentum over the daily price chart. Technical indicators suggest the sideways momentum of SHIB cryptocurrency.
Relative Strength Index showcases the consolidation phase of SHIB crypto. RSI is at 40 and is sideways below neutrality. MACD exhibits the slight uptrend momentum of SHIB crypto. The MACD line is about to cross the signal line for a negative crossover. SHIB army must wait for any directional change and further price action may predict some positive signs for SHIB.
Summary
Shiba Inu price prediction suggests the token is trying to surge towards the upper trendline of the descending triangle. SHIB crypto must attract more buyers in order to recover over the daily price chart. However, volume change is still below average and needs to grow for SHIB to break out of the falling pattern. Technical indicators suggest the sideways momentum of SHIB cryptocurrency.
Technical Levels
Support Levels: $0.0000080 and 0.0000072
Resistance Levels: $0.0000095 and $0.000010
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
